Regulatory Alerts2009-04-01
Order of the Minister of Finance dated April 1, 2009, fixing the conditions for the establishment, organization and operation of the client guarantee fund of the securities market and financial products
The Tunisian Minister of Finance issued this April 1, 2009 Order to establish and regulate the client guarantee fund of the securities market and financial products, entrusting its management to the Tunis Securities Exchange. The Order mandates that stock exchange intermediaries fund the guarantee pool through a 5% transaction commission share and annual 1,000-dinar contributions, which cover non-commercial risks such as failed fund returns, security deliveries, and counterparty payments. It establishes a clear claims procedure requiring clients to file within three months of a default notice, with compensation capped at 30,000 dinars per client and limited to two-thirds of the fund's available resources.
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